Online Brands Nordic (OBAB) Q3 2025 earnings summary

Executive summary

• Net revenue for Q3 2025 reached 122.6 MSEK, up 35.6% year-over-year, with own e-commerce sales rising 43.2% to 95.5 MSEK.

• Organic growth was 7.7% year-over-year, and the group continued integrating recent acquisitions, notably Tanrevel.

• EBITA was 10.5 MSEK (8.5% margin), slightly below last year, impacted by lower margins in new acquisitions.

• Net income for the quarter was 1.3 MSEK, down from 4.8 MSEK in Q3 2024.

• Strategic focus remains on operational efficiency, integration, and leveraging synergies from acquisitions.

Financial highlights

• Gross profit for Q3 was 70.2 MSEK, with a gross margin of 57.2% (down from 60.3% last year).

• Adjusted EBITA for Q3 was 10.8 MSEK (8.8% margin), and rolling 12-month adjusted EBITA reached 26.2 MSEK.

• Cash flow from operations was 2.0 MSEK, with total cash flow for the quarter at 14.8 MSEK.

• Net debt at period end was 43.4 MSEK, and equity stood at 196.9 MSEK.

• Earnings per share for Q3 were 0.05 SEK (0.21 SEK last year).

Outlook and guidance

• No formal sales or earnings guidance for full-year 2025 was provided.

• Management expects continued positive effects from integration and synergy realization, with full benefits anticipated in 2026.

• H2 is seasonally stronger, with Q4 expected to deliver improved cash flow.